How to Retain your Executive Director
Description
In this episode, we explore both financial and non-financial strategies to help your organization retain a superstar executive director. One of the key responsibilities of a nonprofit board is hiring, supporting, and—when necessary—replacing the CEO/Executive Director. If you have a top-tier leader, it's crucial to invest in their retention, as they will likely be in high demand elsewhere. With talent being harder to come by, we'll discuss how your board can take action to ensure your executive director stays for the long haul.
Timestamps:
00:00 Retaining Your CEO
01:30 #1 - Pay your CEO appropriately
02:20 #2 - Offer a bonus
02:40 #3 - Benefits and deferred compensation
04:10 Nonfinancial incentives
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